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- 1 WEMIX crypto price is trading above the key moving averages.
- 2 WEMIX crypto price is trading in the bullish zone.
WEMIX (WEMIX) is a blockchain platform that supports many applications, such as games, dApps, DAO, DeFi, and NFTs. It uses a public chain that is compatible with Ethereum and has a fast and secure way of reaching an agreement called SPoA.
WEMIX3.0, the newest version, has a way of making decisions together through 40 Node Council Partners (NCPs) and provides services like WEMIX PLAY (a gaming platform on the blockchain), NILE (a DAO service using the Neith protocol), and financial services that are decentralized.
WEMIX was started by Park Kwan-ho, who is also the founder and chairman of WEMADE, a company that tries to be different and creative in the market, makes plans and actions, and achieves results that inspire others.
$WEMIX is the main token of the WEMIX3.0 platform and has many roles. It is used for staking, which means putting tokens in a pool to become an authority member. Staked tokens also give voting power for making decisions together on the chain.
WEMIX3.0 wants to be an open platform with better technology based on Ethereum, giving developers the chance to make smart contracts and join the platform.
What Happening on the Technical Chart of WEMIX Crypto
WEMIX showed a strong chart structure in the recent trading sessions. The WEMIX price was trading above the key moving averages and reflected the buyers’ power. The bears were skeptical of the competition and waited for a decline to show their influence. But seeing the rise, they were closing their positions and staying on the sidelines.
WEMIX crypto was trading at $1.74417880 at the time of writing, with a 0.22% drop intraday, suggesting neutrality.
Trading volume for the day was 8.107 Million. The market cap of WEMIX crypto was $566.502 Billion. The crypto expressed the buyer’s power and retained the gains leading the way.
On the daily chart, WEMIX crypto stayed on the top, near the demand zone, holding the gains convincingly. Buyers have an edge and have dominated the past few trading sessions. Moreover, the price persisted in forming higher highs, and sellers were trapped during the rebound.
Indicators Analysis of WEMIX Crypto Price in 1-D Time Frame
Currently, WEMIX crypto (USD: WEMIX) is trading above the 50 and 200-day simple moving averages (SMAs), which are supporting the price momentum.
Accordingly, the WEMIX price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 00 points. The 14 SMA is above the median line at 65.88 points which indicates that the WEMIX crypto is bullish.
The MACD line at 0.12836381 and the signal line at 0.16233911 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the WEMIX crypto price.
Weekly Charts Price Analysis WEMIX Crypto
The weekly charts of WEMIX crypto reveal that the buyers have been dominant. Crypto has been on an upward trend, as it has broken below the key EMAs.
The technical indicators also confirm the bullish sentiment, as the RSI is near the oversold zone at 68 and the MACD has formed green bars and a bullish crossover. These signals demonstrate that the crypto may face more downside pressure in the coming weeks.
Summary
WEMIX crypto (USD: WEMIX) oscillators are currently indicating that the price is overbought. The investors are not very optimistic regarding the crypto. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the WEMIX crypto price.
Technical Levels
Support Levels: 1.72169835
Resistance levels: 2.01173052
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
